BRIEF-Sompo Holdings subsidiary completes acquisition of Endurance Specialty Holdings
* Says subsidiary Sompo Japan Nipponkoa Insurance Inc. completed acquisition of Endurance Specialty Holdings Ltd. on March 28 , or March 29(Japan time)
NEW YORK, April 28 Shareholders of Hanesbrands should reap further gains as the U.S. clothing maker is expected to earn more from new higher-priced products and lower costs on cotton and interest payments, Barron's said in its April 29 edition.
Wall Street analysts projected Hanesbrands, known for its basic T-shirts and underwear, will make $3.45-a-share in 2013, a 32 percent rise from a year ago. They anticipated a 16 percent increase in 2014, the paper said.
"With that growth, if the stock's price-to-earnings ratio nudges close to 15 over the next year, stockholders should secure a 20 percent gain," it said.
The company also introduced a quarterly dividend of 20 cents a share, which will begin on June 3.
Hanesbrands shares closed up 0.15 percent on Friday at $49.16, near their 52-week high of $50.00. The stock has risen 37.2 percent so far this year, surpassing the 11-percent gain for the Standard & Poor's 500 index, the paper noted.
On Tuesday, the company reported its first quarter results with a surge in operating profit to $85.1 million from $10.6 million a year earlier. However, its sales dipped 3 percent to $945.5 million.
"The up-market move has given some shoppers pause," Barron's said, adding, "Free cash flow is surging."
(Adds comment, detail, updates prices) By Melanie Burton MELBOURNE, March 29 London copper held steady near its highest in more than a week on Wednesday, buoyed by brighter data from the United STates, and expectations of seasonally improving second-quarter demand. U.S. consumer confidence surged to a more than 16-year high in March amid growing labor market optimism while the goods trade deficit narrowed sharply in February, indicating the economy was regaining momentu